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Sovereign Debt, Bail-Outs and Contagion in a Monetary Union

Eijffinger, Sylvester; Uras, Burak R.; Kobielarz, M.L. - Tilburg University, Center for Economic Research - 2015

the European monetary integration in late 1990s, and (ii) - following the heightened default risk of Greece - the sudden …

Persistent link: https://www.econbiz.de/10011199228

Do Countries or Industries Explain Momentum in Europe?

Nijman, Theo; Swinkels, L.A.P.; Verbeek, M.J.C.M. - Tilburg University, Center for Economic Research - 2002

Persistent link: https://www.econbiz.de/10011090881

Interbank Exposures : An Empirical Examination of Systemic Risk in the Belgian Banking System

Degryse, Hans; Nguyen, G. - Tilburg University, Center for Economic Research - 2004

interbank market is a potential important driving factor in the risk and impact of interbank contagion.We investigate the … evolution of contagion risk for the Belgian banking system over the period 1993-2002 using detailed information on aggregate … decreased the risk and impact of contagion.Moreover, an increase in the proportion of cross-border interbank assets has lowered …

Persistent link: https://www.econbiz.de/10011092432

Currency Denomination of Bank Loans : Evidence from Small Firms in Transition Countries

Brown, M.; Ongena, S.; Yesin, P. - Tilburg University, Center for Economic Research - 2008

the corresponding credit risk. We test these implications of our model by using a 2005 survey with responses from 9 … earners to choose foreign currency loans. Our results suggest that while the cost and risk of debt do affect the propensity of …

Persistent link: https://www.econbiz.de/10011092691

Currency Crisis, Monetary Policy and Corporate Balance Sheet Vulnerabilities

Eijffinger, Sylvester; Goderis, Benedikt - Tilburg University, Center for Economic Research - 2005

This paper studies how the exposure of a country's corporate sector to interest rate and exchange rate changes affects the probability of a currency crisis.To analyze this question, we present a model that defines currency crisis as situations in which the costs of maintaining a fixed exchange...

Persistent link: https://www.econbiz.de/10011090665

Information Asymmetry and Foreign Currency Borrowing by Small Firms

Brown, M.; Ongena, S.; Yesin, P. - Tilburg University, Center for Economic Research - 2011

We model the choice of loan currency in a framework which features a trade-off between lower cost of debt and the risk … to foreign currency loans, as they do not bear the full cost of the corresponding credit risk. …

Persistent link: https://www.econbiz.de/10011091089

Information from Relationship Lending : Evidence from China

Chang, C.; Liao, G.; Yu, X.; Ni, Z. - Tilburg University, Center for Economic Research - 2009

We study the economic role of banks’ soft information, which evolved from repeated lending relationships, in the context of loan default. Using a proprietary database from one of the largest state-owned commercial banks in China, we find that the bank’s internal credit rating scores play a...

Persistent link: https://www.econbiz.de/10011091222

Foreign Currency Loans - Demand or Supply Driven?

Brown, M.; Kirschenmann, K.; Ongena, S. - Tilburg University, Center for Economic Research - 2009

Motivated by current concerns over foreign currency exposures in emerging economies, we examine the currency denomination of business loans made in Bulgaria prior to the current crisis. We analyze information on the requested and granted currency for more than hundred thousand loans granted by...

Persistent link: https://www.econbiz.de/10011091639

Relational Contracting Under the Threat of Expropriation – Experimental Evidence

Brown, M.; Serra Garcia, M. - Tilburg University, Center for Economic Research - 2010

We examine how relational contracting in credit and investment relationships is affected by the potential expropriation of funds. We implement credit relationships in which repayment is not third-party enforceable, i.e. borrowers can default on their loans. In our main treatment the borrower can...

Persistent link: https://www.econbiz.de/10011091706

Who Needs Credit and Who Gets Credit in Eastern Europe?

Brown, M.; Ongena, S.; Popov, A.; Yesin, P. - Tilburg University, Center for Economic Research - 2010

Based on survey data covering 8,387 firms in 20 countries we compare credit demand and credit supply for firms in Eastern Europe to those for firms in selected Western European countries.

Persistent link: https://www.econbiz.de/10011092505